Expect to see some new faces the next time you work with a Realtor. Twenty-thirteen saw an influx of new and younger members, according to the 2014 National Association of Realtors’ Member Profile.
Compared to 2012, the average years of experience in real estate decreased from 13 years to 12; the typical tenure at a firm decreased to six years from seven; and the average age of members also dropped a year, to 56 from 57.
Sixteen percent of Realtors are between the ages of 30 and 44, and 3 percent are under the age of 30. Further, the percentage of Realtors with one year or less of experience rose to 9 percent in 2013 from 5 percent in 2012 — a sign that agents are attracted to the benefits and opportunities of being a Realtor, according to NAR President Steve Brown, owner of Irongate Realtors in Dayton, Ohio.
The majority of NAR members, 57 percent, are licensed as sales agents, 26 percent are brokers, 17 percent broker associates, and 3 percent are appraisers — though some professionals hold multiple licenses. Women make up 57 percent of all
Realtors, making up 52 percent of brokers and 62 percent of sales agents, respectively.
If you’re looking to buy but have not yet found an agent, ask a friend. Referral business accounts for 21 percent of activity for Realtors. Repeat business from previous clients also accounted for a median 21 percent of activity, with those in business more than 16 years that jumps to 42 percent.
If you don’t have a direct referral, check the web, as today’s Realtors keep a large online presence. More than two-thirds have a personal website; 61 percent use social or professional networking sites, and 12 percent maintain a blog.
© CTW Features